Core Viewpoint - The acquisition of approximately 1.17% equity in the National Stadium by Giant Star Legend marks the entry of private capital into a national cultural landmark, highlighting a significant strategic move for the company [1][2]. Group 1: Acquisition Details - Giant Star Legend's wholly-owned subsidiary, Xing Chuang Yi (Kunshan) Cultural Entertainment Co., Ltd., will acquire about 1.17% of the equity in the National Stadium Co., which corresponds to a registered capital of approximately 24.3 million RMB [1]. - The seller of the equity is Beijing Jinzou Sunshine Consulting Co., Ltd., which is currently undergoing bankruptcy liquidation [1]. - The acquisition is subject to several preconditions, including the lifting of equity freezes and the waiver of preemptive rights by existing shareholders [1][2]. Group 2: Strategic Implications - This acquisition positions Giant Star Legend as the only private shareholder in the National Stadium's operations, which carries significant symbolic and strategic value [1][2]. - The company will act as an "IP strategic partner," providing comprehensive services related to IP creativity, design, development, and commercialization for major events held at the stadium [1]. Group 3: Market Reaction and Challenges - Following the announcement, Giant Star Legend's stock experienced volatility, initially dropping by about 4% before rising by 2%, closing at HKD 11.42, a decrease of 4.83% [2]. - The limited equity stake implies restricted decision-making power, necessitating reliance on cooperation agreements for strategic alignment [2][3]. - The state-owned nature of the National Stadium introduces challenges in balancing social and economic benefits, potentially limiting commercial development opportunities [2][3].

Core Viewpoint - The company, Giant Star Legend (6683.HK), announced a conditional equity acquisition agreement to purchase approximately 1.17% of the equity in National Stadium Co., Ltd., which corresponds to a registered capital of about RMB 24.3 million [2]. Group 1 - The acquisition is made through the company's wholly-owned subsidiary, Xing Chuang Yi (Kunshan) Cultural Entertainment Co., Ltd., in collaboration with Beijing Jinzhou Sunshine Consulting Co., Ltd. and Deloitte Huayong [2]. - National Stadium Co., Ltd. is the construction and operation entity of the Bird's Nest, a significant national project and an internationally recognized sports and cultural landmark [2]. - The Bird's Nest plays a crucial role in hosting major sports events, cultural performances, and promoting tourism, serving as a "super scene" for offline activities [2]. Group 2 - The company is not entering as an event organizer but as an "IP strategic partner," providing comprehensive services in IP creativity, design, development, and commercialization for top artists and major events held at the Bird's Nest [2]. - This partnership aims to create a value chain centered around IP, covering the entire experience cycle from "preheating - on-site - derivative - aftertaste," establishing a closed loop of "IP empowering scenes, and scenes feeding back to IP" [2]. - Giant Star Legend becomes the only private enterprise shareholder of the Bird's Nest, adding a unique aspect to this collaboration [2]. Group 3 - Following the announcement, the company's stock price initially dropped by about 4% but then surged to a 1% increase, returning to a fluctuating market trend by the time of reporting [3].

Core Viewpoint - The company Giant Star Legend (6683.HK) has announced a conditional equity acquisition agreement to purchase approximately 1.17% of the equity in the National Stadium Co., Ltd., which corresponds to a registered capital of about RMB 24.3 million [3]. Group 1 - The acquisition is made through the company's wholly-owned subsidiary, Xing Chuang Yi (Kunshan) Cultural Entertainment Co., Ltd., in collaboration with Beijing Jinzhou Sunshine Consulting Co., Ltd. and Deloitte Huayong Accounting Firm [3]. - The National Stadium Co., Ltd. is responsible for the construction and operation of the Bird's Nest, a significant national project and an internationally recognized cultural landmark [3]. - The Bird's Nest plays a crucial role in hosting major sports events, cultural performances, and promoting tourism, serving as a "super scene" for offline activities [3]. Group 2 - Giant Star Legend is not entering as an event organizer but as an "IP strategic partner," providing comprehensive services in IP creativity, design, development, and commercialization for top artists and major events held at the Bird's Nest [3]. - The company aims to create a value chain centered around IP, covering the entire experience cycle from "preheating - on-site - derivative - reminiscence," establishing a closed loop of "IP empowering scenes, and scenes feeding back to IP" [3]. - This partnership grants Giant Star Legend the unique position of being the only private enterprise shareholder in the Bird's Nest, adding a rare quality to this collaboration [3]. Group 3 - Following the announcement, the stock price of Giant Star Legend initially dropped by about 4% but then rebounded to an increase of 1%, indicating a volatile trading pattern [4].